TREND WATCH------
• Last swing high is at 5416. (Lower high)
• Last swing low is at 5349. (Lower low)
• In the medium term,
--- Nifty is in uptrend (From 12th July) with targets of 5400**, 5460**, 5550.
---The up trend will terminate below 5349.
• In the short term,
--- Nifty is in corrective up move (from 2nd August) with targets of 5430**, 5460, 5480.
---The up move will terminate below 5349.
(Targets are +/- 20 points, ** means target achieved)
IMP. NOTES----
• Nifty traded between 5351 and 5439.
• Swing low of 5349 formed now which is lower then previous swing low of 5381.
• Nifty traded and closed above swing high of 5416, so short term down trend is now terminated.
